oBondUS_Yield( ) Example

Description

Consider a US Government bond (T-Bond) trading at a price of $99.25 with a coupon rate of 6.00%, a dated date of 15 October 1997, a first coupon date of 15 August 1998, a maturity date of 15 February 2002, and a face value of $10,000,000. What is the current yield of this bond assuming a settlement date of 1 June 1999?